CFA CFA Level 3 Using pencil for morning section

Using pencil for morning section

  • This topic has 27 replies, 6 voices, and was last updated Oct-17 by vincentt.
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    • ben
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      Is it allowed? It looks from the CFAI web site like you must use pen. I am practicing that way but keep ending up with lots of cross-outs. Any advice?

    • vincentt
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      I think you can use both, unless they have changed the rule for this year.

    • BeanCounter
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      I spotted that as well – specifically states blue or black ink. I’m going to err on the side of caution – and have switched from pencil to pen for practicing. But am also having lots of cross-outs.

    • ben
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      Do they still make erasable pens?

    • Alta12
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      I think you have to use pen. But I’m worried…

      If using pen, how do you erase when you circled the wrong answer in the template?

    • vincentt
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      @alta12 if not mistaken it’s pen or pencil, depending on personal preference. I think you’ll write quicker with a pen.

    • Alta12
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      I’ve emailed CFAI. Hopefully will get a response. Will let you guys know.

    • Alta12
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      @beancounter @vincentt @ben‌ CFAI’s email response said pen or pencil is fine. In that case, what will you be using?

    • vincentt
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      @Alta12‌ Pen for sure, i’ve been practicing with pen, it’s way quicker. As long as you clearly strike out words it should be ok, based on CFAI’s 2013 AM, they do give you lots of space.

    • RaviVooda
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      @vincentt, missed this thread

    • vincentt
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      @RaviVooda‌ no worries, so how’s preparation going? I’m still worried about the AM paper.

    • RaviVooda
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      @vincentt, going through formulas and mistakes that I have done so far in mocks. I’m too worried.

    • RaviVooda
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      @vincentt, one doubt. If interest rates are decreasing, will puttable bonds outperform normal bonds?

    • vincentt
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      @RaviVooda‌ yes, absolutely! just like how callable underperforms straight bonds when raise fall…

    • BeanCounter
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      @Alta 12. Interesting. Very intresting. I shall start practicing with a pencil and see what I think.
      I have one of these very nifty mechanical pencils that auto-rotate to stay sharp: http://www.jetpens.com/Uni-Kuru-Toga-Roulette-Model-Auto-Lead-Rotation-Mechanical-Pencil-0.5-mm-Gun-Metallic-Body/pd/6547

    • BeanCounter
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      My writing is very, very messy and I frequently want to change what I have put so will probably use a pencil.

    • BeanCounter
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      And I forgot to say thank you! It’s much appreciated you having emailed.

    • Alta12
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      No problem @beancounter I have messy writing too. But will use pen. Hopefully they can read it!

    • Alta12
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      @ravivooda @vincentt I’m starting to freak out. And definitely this week not as productive as last week 🙁

    • vincentt
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      @alta12 tell me about it !! My entire L3 hasn’t been as productive as L2 ! Losing momentum. Did you find 2010 paper way easier than 2013’s?

    • Alta12
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      @vincentt Now you are starting to make me feel bad! I didn’t do the 2010 paper! 2013 was hard. I found 2012 was the kindest out of the three am papers. All CFAI PM mocks were more in tune with me than Schweser PM mocks. Not sure if it is because I didn’t use Schweser for my readings and their focus is slightly different. It think L2 took a lot out of us! If there wasn’t the AM essay section for L3, I would be more confident.

    • vincentt
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      @alta12 take it easy mate, you have done far more practice questions than i do, i think 6-7 is a good number. You’re right 2012 seems easier than 2013 and 2011 based on the score but 2010 is the highest for me and 2013 being the lowest.

      Ya, actually i feel L2 is overhyped, though it’s vignette based it’s not as scary as what most people said. CFAI’s mock PM has been fairly okay. Schweser is always tougher than normal and their approach is a little different.

    • BeanCounter
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      @alta12 – would you be willing to forward the email and/or post it? I always want to err on the safe side, so if I get given a mark of zero for having used a pencil I’d like to be able to show they should mark it…

    • Alta12
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      @beancounter I’m not comfortable in posting it on the forum. But I suggest that you email them directly and obtain an answer on record. They reply pretty much within a few hours.

    • Zee Tan
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      @BeanCounter‌ ‘Pens and pencils’ are mentioned in the personal belongings section of the CFA Institute website: http://www.cfainstitute.org/about/governance/policies/Pages/personal_belongings_policy.aspx

      So I think you’re good with both.


      @vincentt
      ‌ really? I thought L2 was the hardest, but @sophie I think agrees with you… I was rubbish at accounting though so L2 was really tough for me.

    • BeanCounter
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      @alta12 – will do. Which email address did you use?

    • Alta12
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      @beancounter login to your CFAI account and there is a contact web page to fill in with a couple drop down boxes to select.

    • vincentt
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      @zee I think many people find L2 the hardest because there’s a vignette and you cannot miss out anything in the entire vignette. However, when you compare that to essay it’s so much easier. In essay, if you don’t know it, there’s nothing much you can do, but in MCQ the answer will guide you. Sometimes when i forget certain parts of a formula, i will do many different combinations until i get the right answer. lol. Don’t think you can do that in essay.

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